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Frontier IP (LON:FIPP), a specialist in commercializing intellectual property, announced today that its portfolio company, GraphEnergyTech, has successfully raised £1 million in its first external equity funding round. The funding was led by Aramco Ventures, the corporate venturing arm of Aramco, the world's leading integrated energy and chemicals company. With this investment, Frontier IP retains a 23.97% equity stake in GraphEnergyTech.
Focus on Advanced Graphene Electrode Development
The raised funds will be utilized to accelerate the development and scale-up of GraphEnergyTech's advanced high-conductivity graphene electrodes. These innovative electrodes are poised to replace silver electrodes in solar cells, offering a more sustainable and cost-effective solution.
Addressing Silver Supply Concerns
Silver is currently the most widely used material for electrodes in solar cells. However, increasing demand for solar power could deplete global silver reserves by 2050, according to research from the University of New South Wales. Additionally, silver mining is expensive and environmentally harmful. GraphEnergyTech's graphene electrodes not only address these concerns but also reduce manufacturing costs significantly compared to silver electrodes.
Expanding Applications of Graphene Technology
Beyond solar cells, GraphEnergyTech's advanced graphene technology has potential applications in various fields, including batteries, super capacitors, LED lighting, and displays. This versatility underscores the broader impact and commercial potential of GraphEnergyTech's innovations.
